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Thursday, 24 July 2014

OTC stock market for Thilawa SEZ to open

The over-the-counter stock market for Thilawa Special Economic Zone will be launched later this year according to the chairperson of the Thilawa SEZ.

“The counters will open at public areas for easy access to information and inquiry. The counters are opened to sell shares because there is no stock market yet. We will expand the market depending on the demand. Once the stock market is established, counters may not be needed,” Win Aung, the chairperson said.The share sales began on March 3 through dealers, responding to a high demand. The share price starts at Ks 10,000. Anyone can buy up to 500 shares worth Ks 5 million. If buyers wish to buy more than 500 shares, they may have to go through ratio allocation system.

Win Aung said that there will be two benefits for trading shares: one is dividend payment and the other is market value which means the shareholders can buy and sell shares at any time.